Mikhail Sergachev thinks Lightning will find a way to work out his next contract

By just about any standard, it sure doesn’t look like it will be easy for the Lightning to sign pending RFA defenseman Mikhail Sergachev to a new contract. Sergachev told NHL.com’s Dan Rosen that he believes it will all work out, though.

“It’s a little different obviously right now, but I’m trying to leave it to my agent (Mark Gandler),” Sergachev said on Thursday, via Rosen. “He’s going to deal with it, I guess. But for me, I just want to continue the season, play and get better and see what happens. I feel like they’re going to work out something. I have a good agent.”

Here’s why this is an interesting situation to watch, considering Sergachev’s potential, and also the Lightning’s larger cap challenges.

What is the right contract?

Sergachev, 21, really earned more trust — and playing time — from the Lightning this season.

Sergachev’s ice time climbed from 15:22 per game in 2017-18 to 17:55 in 2018-19, and finally 20:22 on average this season. Despite the pause, Sergachev set career-highs in goals (10) and points (34).

“He’s evolved into a great two-way defenseman,” Hedman said. “ … He’s an unbelievable talent offensively, we all know that. But the shot blocks, the hits, the way he plays in his own end, it’s fun to watch.

“I’ve said this many times before, the sky is the limit for this guy. This is just the start.”

During certain stretches, I couldn’t help but wonder if the Lightning were holding Sergachev back a bit.

Such a thought makes you wonder if we haven’t really seen his offensive ceiling yet. On the other hand, theoretically, veteran defenseman Hedman and Ryan McDonagh could also insulate Sergachev defensively.

So what’s a fair contract for Sergachev? Again, it’s tough to tell.

Using Evolving Hockey’s contract projection tool while adjusting for an $81.5M cap hit, the anticipated deal might be for eight years with a $6.5M cap hit. While Evolving Hockey’s model puts an eight-year deal at a 32-percent chance, other most likely outcomes sit at six years (25 percent) or a two-year bridge (13%).

Let’s zoom out, though, as the Lightning’s overall situation and history could factor into Sergachev’s individual value.

Can the Lightning pull off salary cap magic again with Sergachev, Cirelli, Cernak?

Time and time again, we’ve seen the Lightning pull off serious wizardry in tight cap situations. All of Nikita Kucherov, Steven Stamkos, and Victor Hedman signed for less than market value.

Watching Alex Killornzoom around Tampa Bay docks on his jet ski provides a reminder of why they took discounts, along with the “playing for a really good team in a state with tax breaks” factors.

Financial blowback from COVID-19 might make this offseason the trickiest one yet for Tampa Bay. After all, they were already anticipating some challenges if the cap went up to, say, $84.5M or so.

(You’d think it wouldn’t be such a bad thing to be compared to a “deep-fried pickle,” but alas.)

Via Cap Friendly, the Lightning already have $76.16M devoted to 15 players for 2020-21. That’s before you factor in new contracts for Sergachev, but also dark horse Selke candidate Anthony Cirelli, and useful defenseman Erik Cernak.

Going back to Evolving Hockey’s projection tool, hypothetical estimates combine the three at $14-$15M. Even Mirtle’s more generous estimate would tack on $11M.

(Frankly, if the Lightning signed Sergachev and Cirelli for $11M, let alone Cernak, they’d be getting great deals.)

But, yeah, we’ve seen players accept less than they might otherwise get with the Lightning. It wouldn’t be shocking to see this happen again, especially if Sergachev is OK betting on himself by taking a shorter “bridge” deal.

Even so, expect painful losses for the Lightning. It’s tough to imagine bargain bin free agent Kevin Shattenkirk squeezing in again, and you’d expect Tampa Bay to lose one or more of Tyler Johnson or Yanni Gourde.

Yes, there are worse problems to have … which is probably why Sergachev will just relax and do cat-centric exercises rather than worrying too much.